MCW Energy Group’s Plant Opening Ceremonies were an unqualified success on Wednesday, October 1st near Vernal Utah. Local and state officials and dignitaries were on hand for this ground-breaking event, as well as many of MCW’s key investors, shareholders, financial institutions, media personnel, the MCW management team, family, friends and the many local Vernal/Utah suppliers who all contributed to making this plant a reality.
Informative plant tours were conducted in order to demonstrate the environmentally-friendly technology from the feedstock-loading stage, through to the hydrocarbon extraction stage. The event included an onsite luncheon and keynote speeches from Mr. Val Hale, Director of Energy Development, Utah, Mayor Sonya Norton, MCW’s Chief Executive Officer, Dr. Jerry Bailey and Maverick Peterson of Screaming Eagle Construction. The theme of the event was the focus on MCW being pioneers in the development of earth-friendly extraction technology and the emphasis on Responsible Resource Development.
All of the attendees were presented with an information package, which included samples of the cleaned, dried sand and a souvenir test tube filled with the day’s initial demonstration processing run.
MCW Oil Sands Recovery, LLC is an oil sands extraction technology company which also owns a key oil sands lease property in the prolific Asphalt Ridge region of Utah. The Company’s strategy is to develop its own oil production inventory, which in turn will provide a steady access to its own, independent oil supply and subsequently, will result in greater flexibility in pricing controls.
[Formerly McWhirter Distributing Company]
For 75 years, MCW Fuels has been distributing oil and diesel products throughout western United States and has become one of the leading distributors in the petroleum products industry on the west coast. Established in 1938, MCW Fuels now markets over 150 million gallons of branded and unbranded fuels per year, with 2012 sales totalling $363,300,000, (up from sales of $241,500,000 in 2011 and sales of $188,700,000 in 2010.) Beginning with a single distributorship in Van Nuys, California, MCW Fuels has an aggressive acquisition program underway, purchasing Westco Petroleum Distributors Inc., and Ocean Pacific Fuels Inc. in June/July, 2012.
(An excerpt from Utah’s Department of Energy Development’s website.)
On Wednesday, October 1st, 2014, MCW Energy Group hosted a ribbon cutting on the newest Utah energy production site in Vernal, where the proprietary oil sands extraction technology was demonstrated.
Touted as transformative, the patented process claims 99% closed-loop solvent recovery and zero water consumption, making it environmentally friendly, cost efficient and commercially viable.
The ribbon-cutting event was attended by local dignitaries that included Vernal Mayor Norton and State Senator Van Tassell along with the Vernal Area Chamber of Commerce Dinah-Mites, the chambers “good will ambassadors.”
Guests were taken on a facility tour and were able to climb to the top of the ore mixing unit and see the process first-hand
Dr. R.G. (Jerry) Bailey, CEO of MCW Energy Group recognized the importance of this project and of unconventional oil processing in general. He comes from a long career as a “Texas oil man” with more than 50 years in the industry. He is a strong supporter of MCW’s new technology and said that he believes it will be revolutionary for the energy industry. He explained that MCW is in a testing phase during September/October of 2014, and anticipates starting production from this plant in the 4th quarter of this year at 250 bbl/day.
The company stated it has a number of interested investors and has secured 90% of the capital ($100 million US) it estimates is needed to expand to the 1000+ bbl/day production level. They also are in preliminary discussions concerning modular unit construction at sites in Wyoming and China.
MCW representatives thanked the Office of Energy Development for their participation at the event during the lunch speeches, and concluded with production samples of oil processed on the demonstration equipment along with clean sand obtained after the extraction process. The impact to the state’s ongoing commitment to provide reliable, affordable energy has the potential to be significant.View the original article here.
For the fourteenth week in a row, gasoline prices were lower than the preceding week in California and throughout the U.S.A. The average gallon price in California dipped by 2.7 cents from the previous week, with the statewide average price going to $ 3.666 per gallon. Mid-grade prices fell to $ 3.776, while Premium grades dropped to $ 3.881 per gallon.
In Northern California, retail diesel prices were $ 3.961 per gallon, while Central California prices were lowered to $ 3.930. Southern California’s diesel prices were $ 3.960.
The national average for self-serve regular was $ 3.299, down 5.5 cents from the previous week.
California Factoid: The state’s transportation system includes 33.5 million registered vehicles (cars, trucks, trailers and motorcycles), as well as 170,000 miles of local, state and federal government roads.
SOURCE: ENERGY ALMANAC, CALIFORNIA STATE GOVERNMENT-TRANSPORTATION DIVISION.